General information

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Wholesale Banking

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INCOMING CREDIT TRANSFERS

SEPA credit transfer

The incoming SEPA credit transfers are booked in favour of the clients' accounts of ING Bank with the same value date as ING Bank receives funds on its account, i.e. the funds are available for the client without any delay. The incoming payments are booked several times during each business day.

Cut-off Time

Incoming SEPA credit transfers

n/a

International credit transfer

The incoming international credit transfer are booked in favour of the clients' accounts of ING Bank with a value date according to the instruction received from the sender’s bank (provided that the transfer amount is credited on the account of ING Bank). To apply the same day value for incoming transfers in GBP and USD the instruction has to be received on the value date D before 5 p.m. The transfers in GBP received after this cut-off time are booked on the next business day with the next day value.

Cut-off Time

Incoming International credit transfer

(receipt of instruction from the sender´s bank)

n/a

Incoming International credit transfer in GBP and USD

(receipt of instruction from the sender´s bank)

day D 5 p.m.

RTGS credit transfer

Incoming RTGS credit transfer – “Real Time Gross Settlement” transfers are processed in real time and credited in favour of the clients´ accounts of ING Bank with the same value date as stated in the swift message received from the sender's bank on day D.

Cut-off Time

Incoming RTGS credit transfer

(receipt of swift message)

n/a

ING In-house credit transfer

ING In-house credit transfers are booked on the client´s account with the same day value date without any delay.

Cut-off Time

Incoming ING In-house credit transfer

n/a

OUTGOING CREDIT TRANSFERS

SEPA credit transfers (One day)

SEPA credit transfers (One day) are processed by ING Bank with the next day value date. This means, that ING Bank will debit the client's account with the amount of the transfer on day D when the SEPA credit transfer is submitted by the client (providing the cut-off time was met) and the amount of the transfer is sent to the bank of the beneficiary and credited to the beneficiary’s bank account on the following day, i.e. D+1 (One day). The cut-off time for delivery of the SEPA credit transfer by the client is 5 p.m. on day D (for SEPA credit transfer received electronically).

ING Bank is able to execute SEPA credit transfers also with the same day value. The cut-off time for delivering the Same day SEPA credit transfers is 11 a.m. on day D (for transfers received electronically). The beneficiary’s bank receives the transfers on day D.

International credit transfers are processed with two business days float as a standard. It means, if the client delivers an order for International credit transfer on day D before cut-off time, the Client's account is debited with the value date D and ING Bank sends the transfer to the bank of the beneficiary with value date D+2. Cut-off Time for international credit transfers (Two days) in CAD, CHF, GBP, HUF, PLN, RON and USD is 5 p.m. on day D (for transfers received electronically). Cut-off time for international credit transfers (Two days) in other currencies is 2 p.m. on day D.

Same day International credit transfers in EUR outside EEA, USD and CZK are processed with the same day value. The cut-off time for Same day International credit transfers in EUR is 11 a.m. on day D (for transfers received electronically). The cut-off time for Same day International credit transfers in CZK is 10 a.m. on day D (for transfers received electronically). The cut-off time for Same day International credit transfers in USD is 17:00 on day D.

Outgoing RTGS credit transfers are processed in real time with the same day value. The cut-off time for RTGS credit transfer is 4 p.m. on day D (for credit transfers received electronically). The beneficiary’s bank receives the transfer on day D.